The Benefits of Product Placement Product placement as a marketing tool is becoming tremendously widespread as it has a lot of benefits enjoyed both by the marketer, the client and other stakeholders. It has assisted many businesses to considerably boost...<br /><a class="read-more-button" href="http://cwkj.info/news-for-this-month-products.html">Read more</a>
The Benefits of Product Placement
Product placement as a marketing tool is becoming tremendously widespread as it has a lot of benefits enjoyed both by the marketer, the client and other stakeholders. It has assisted many businesses to considerably boost their bottom line particularly when associated with films that have a high success rate. First, let us check out what product placement is all about. Product placement marketing or branded entertainment, is an advertising method employed by firms to subtly endorse their merchandise, usually through various forms of entertainment like appearance in movies or any other media. Essentially, brands would enter into an agreement with any film production firm involving monetary considerations.
The emergence of this form of promotion strategy has coincided with the reduction of the benefits that traditional promotion modes. A lot of business identified that consumers no longer found the traditional advertising mode attractive, therefore branded entertainment was incorporated in their promotion techniques to capture a broader audience. With the decrease of the attractiveness of traditional means, marketers resulted in enlisting advertisement in prevalent movies as well as TV productions to seize the attention of consumers.
Once the marketing agencies started to employ branded entertainment approaches, progressively more firms were seen advertising their merchandise in popular movies as well as TV productions. The commercials can be witnessed in many popular films we have seen in cinemas over the time. This has made the branded entertainment policy became an effective tool for many marketers.
Branded entertainment marketing offers plenty of benefits to a lot of people involved like manufacturers, producers and actors. For a lot of firms, it is a cost-effective marketing strategy. Branded entertainment is far much less expensive than traditional TV advertising which carries hefty fees charges in thousands of dollars to even millions for limited airplay depending on network. On top of that, you are not guaranteed many returns compared to product placement where a higher exposure of brand to the target audience is experienced.
In addition, you experience higher credibility when using product placement as a marketing tool for your product. Generally, with a merchandise well place in a film or scene in a TV show, the viewers generate a strong bond with a merchandise as it is involved with the star quality which increases the brand awareness and its appeal as a whole. Since you will be enhancing brand awareness, the more you will turn this to higher returns on investments thus higher profits. Moreover, you are guaranteed longer showings as your product will be seen time and time again which may not be the case in traditional marketing. Therefore, the re-runs ensure that your strategy spreads to a broader audience and there is more time for the consumer to connect to the product.